What is the best way for secondary markets to help loan originators? LOs tends to have many questions throughout the loan process, and it is absolutely essential to have clear communication procedures
By David Lykken
Special to MPA
What is the best way for secondary markets to help loan originators? LOs tends to have many questions throughout the loan process, and it is absolutely essential to have clear communication procedures.
LOs need to have access to information. They need to know about all of the policies and procedures, and they need to be able to access them quickly and easily. LOs also need to access to training opportunities and education. The easier these things are for the LO to find, the better off the secondary market will be.
Julie Messsina of CNN Mortgage, who I recently had on my Lykken on Lending radio show, recommends having an intranet through which LOs can access information. When LOs know that there is a central hub to which they can go to find everything they need, the process runs much more smoothly.
If you are in the secondary market, how are you ensuring that your LOs can get the information they need quickly and effortlessly? Clear communication means everything.
David Lykken is 40-year industry veteran who consults on virtually all aspects of mortgage banking. David hosts a successful weekly radio program called “Lykken On Lending” (www.LykkenOnLending.com) that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professionals.
